NAB: Australia’s GDP won’t recover until 2022

Thursday 11 June 2020

National Australia Bank CEO Ross McEwan does not expect Australia’s GDP growth to return to pre-coronavirus levels until 2022:

Mr McEwan told The Australian there was still “a long way to go” for a sustainable economic rebound.

“We have still got a fair way to go to get the economy really back up to speed, and our view is still that 2022 is when the economy recovers to a GDP level that we were at at the end of 2019,” he said.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.